Slow progress in approval of nickel mines in Indonesia, with less than expected demand for stainless steel-Zhejiang Benji Stainless Steel Co., Ltd

1、 Raw material report:
1. Nickel: On May 17th, the closing price of nickel in London was $21080, a significant increase of $1283, or 6.48%; The latest price of Shanghai nickel 2406 is 155500 yuan, a significant increase of 5190 yuan, a significant increase of 3.34%; Shanghai high carbon ferrochrome FeCr55C1000 (50 base) is priced at 8900 yuan/50 base tons. Luoyang Molybdenum Iron 241000 yuan/ton.
2. The latest price of stainless steel SS2409 is 14455 yuan, up 205 yuan, or 1.44%; The holding amount is 162528 lots, and the trading volume is 117149 lots.
3. Purchase price of waste stainless steel at Fujian Qingtuo Yongchang Freight Yard:
1) 304 first grade white material (small punch plate, laser material, round steel, edge wire) costs 10100-10150 yuan/ton, and 304 new pipe head edge material costs 10000 yuan/ton.
2) 316 new pipe head corner material costs 18400 yuan/ton, and 316 first grade white material (small punching plate, laser material, round steel, edge wire) costs 18500-18600 yuan/ton.
3) 2205 whiteboard, thick tube, and round steel are priced at 18200 yuan/ton, 2507 whiteboard, thick tube, and round steel are priced at 22500 yuan/ton, and 2520 whiteboard, tube plate, and round steel are to be received.
2、 Wuxi stainless steel plate coil reference price
1. Taiyuan Iron and Steel Hot Rolling Guide Price:
300 hot-rolled series: 15500 yuan/ton for 304/NO.1; 16100 yuan/ton for 321/NO.1; 25900 yuan/ton for 316L/NO.1.
Middle plate (cut edge, thickness: 14-20mm, width: 1500mm) 304 material -17000 yuan/ton, 321 material: 19300 yuan/ton, 316L material: 29000 yuan/ton.
2. Dongte Hot Rolling Guide Price:
S30408 material: 13600 yuan/ton for 4-12mm, 13800 yuan/ton for 14mm; 14000 yuan/ton for 16mm;
S31603 material costs 24400 yuan/ton for 4-12mm and 24700 yuan/ton for 14mm; 24900 yuan/ton for 16mm;
310S hot-rolled flat plate 3, 4mm 34800 yuan/ton, 5-10mm 34000 yuan/ton, 12mm 34300 yuan/ton, 14mm 35300 yuan/ton.
2205 hot-rolled 26100 yuan/ton
3. Qingshan hot rolling: 304 material 13300 yuan/ton; Dingxin 310S material costs 34600 yuan/ton for 3mm, 34700 yuan/ton for 4mm, and 34500 yuan/ton for 5-10mm.
4. Zhangpu guide price: 13700 yuan/ton for 304 material, 16300 yuan/ton for 321 hot-rolled; 316L hot-rolled at 24700 yuan/ton.
3、 Reference price for stainless steel pipes and rods
1. The May price of Qingshan round steel is ? 65-130. S30400 material costs 13500 yuan/ton, 316L material costs 23800 yuan/ton, TP321 material costs 16300 yuan/ton, and 321 material costs 15100 yuan/ton.
2. The price of S30400 material in May is 13500 yuan/ton for ? 160-260, and 13600 yuan/ton for ? 300-360. The 316L material costs 24200 yuan/ton for ? 160-260, and 24300 yuan/ton for ? 300-360. 2205 material ? 160-260, 25400 yuan/ton.
3. Yongxing Bar Material ? 65-130: 304 material costs 16700 yuan/ton, TP321 material costs 19200 yuan/ton, 316L material costs 28500 yuan/ton, 316LGB material costs 31500 yuan/ton, S22053 material costs 30000 yuan/ton.
4. [Fukai Market Price]:
1) 2205 (F60) material ? 150-300 round steel 26000 yuan/ton; ? 65-130 round steel 27000 yuan/ton;
2) 36500 yuan/ton for 310S material ? 65-130; 36000 yuan/ton for ? 150-300. 29000 yuan/ton for 309S material ? 65-130;
3) S32750 (F53) material ? 150-300 round steel 34000 yuan/ton; ? 65-130 round steel 37500 yuan/ton. S32760 (F55) material ? 65-130 round steel 41000 yuan/ton.
4) 316L ? 65-130 round steel at 26000 yuan/ton; 316Ti ? 65-130 round steel 29100 yuan/ton; National standard 316L ? 65-130 round steel 33500 yuan/ton; German standard 316 material ? 65-130 round steel 29200 yuan/ton; 317L ? 65-130 round steel 37000 yuan/ton;
5) 19300 yuan/ton for 321H material ? 65-130; 22500 yuan/ton for 347H material ? 65-130;
6) NO8810 ? 200-250 round steel 73000 yuan/ton; ? 65-130 yuan/ton for round steel.
7) NO7718 ? 200-250 round steel costs 178000 yuan/ton; ￥ 65-130 round steel costs 183000 yuan/ton;
8) NO8028 ? 200-250 round steel 90500 yuan/ton, ? 65-130 round steel 101000 yuan/ton;
9) NO8120 ? 200-250 round steel costs 93000 yuan/ton, ? 65-130 round steel costs 110500 yuan/ton;
10) 630 material (17-4) ? 150-300 round steel costs 16300 yuan/ton, ? 65-130 round steel costs 17000 yuan/ton;
11) 213000 yuan/ton for NO6625 material ? 200-250; ? 65-130 round steel 217000 yuan/ton;
12) 146000 yuan/ton for NO6601 material ? 200-250; 149000 yuan/ton for ? 65-130.
13) 163000 yuan/ton for NO6600 material ? 200-250; 168000 yuan/ton for ? 65-130.
14) 230000 yuan/ton for NO10276 ? 200-250; ? 65-130 round steel at 235000 yuan/ton;
15) XM-19 ? 65-130 round steel at 38000 yuan/ton;
16) S31254 material ? 65-130 round steel 66500 yuan/ton.
17) 904L material ? 65-130 round steel, priced at 68000 yuan/ton.
18) NO8926/1.4529 material ? 65-130 round steel 81000 yuan/ton, ? 200-250 round steel 91000 yuan/ton;
19) NO8825 material ? 65-130 round steel 10800 yuan/ton, ? 200-250 round steel 107000 yuan/ton;
20) NO7718 material ? 65-130 round steel 172000 yuan/ton. N10276 material ? 65-130 round steel 233000 yuan/ton.
21) 173000 yuan/ton for NO3030 material ? 200-250; ? 65-130 round steel costs 178000 yuan/ton.
155000 yuan/ton for NO4400 material ? 200-250;
22) 162000 yuan/ton for NO4400 material ? 200-250; ￥ 65-130 round steel costs 165000 yuan/ton.
23) 1.4460 material ? 65-130 round steel costs 26800 yuan/ton.
24) Wuxi Puheng Forged Round 304L Material: 15600 yuan/ton for ? 140-250, 16300 yuan/ton for ? 260-400; 316L material: 26200 yuan/ton for ? 140-250, 26400 yuan/ton for ? 260-400.
5. [Zhejiang Benji Pipe Reference Price]
Stainless steel seamless pipe 30408 material, specification 25 * 2 * 6000 cold drawn pipe, acid washed and weighed for delivery -26.8 yuan/kg;
Stainless steel seamless pipe S31603 material, specification 25 * 2 * 6000 cold drawn pipe, acid washed and weighed for delivery -39.8 yuan/kg;
Stainless steel seamless pipe S32168 material, specification 25 * 2 * 6000 cold drawn pipe, acid washed and weighed for delivery -30.5 yuan/kg;
Stainless steel welded pipe 30408 material, specification 219-813 * 4-6, acid washed and weighed for delivery -20.3 yuan/kg;
Stainless steel welded pipe S31603 material, specification 219-813 * 4-6, acid washed and weighed for delivery -33.3 yuan/kg;
Stainless steel welded pipe 32168 material, specification 219-813 * 4-6, acid washed and weighed for delivery -25.9 yuan/kg.
4、 Statistical data:
According to Mysteel research:
On May 16, 2024, the social inventory of stainless steel in the mainstream market nationwide was 1109799 tons, an increase of 1909 tons or 0.17% compared to the previous week. Among them:
The total inventory of cold-rolled stainless steel is 690856 tons, a decrease of 16848 tons or 2.38% compared to last week;
The total inventory of hot-rolled stainless steel is 418943 tons, an increase of 18757 tons or 4.08% compared to last week;
The total inventory of the 200 series is 206374 tons, an increase of 8094 tons or 4.08% compared to the previous week;
The total inventory of the 300 series is 714776 tons, a decrease of 17846 tons or 2.44% compared to last week;
The total inventory of the 400 series is 187666 tons, an increase of 10675 tons or 6.03% compared to last week.
Wuxis inventory is 660655 tons, an increase of 3591 tons or 0.55% compared to last week;
Foshans inventory is 320632 tons, a decrease of 15826 tons or 4.70% compared to last week;
Zibo, Jieyang, Shenyang, and Xian have inventory of 128512 tons, an increase of 14144 tons or 12.37% compared to last week.
5、 Market analysis
In terms of nickel supply, although the disturbance of overseas nickel supply has weakened, Indonesia has not yet provided updates on the approval progress of nickel mines, resulting in the need for time for mining volume to increase. Since March, the tight supply of nickel ore has gradually affected the supply of the smelting process, adding some uncertainty to the fluctuation of nickel prices. The approval of nickel mines in Indonesia has been delayed, and the rainy season in the main mining area of the Philippines has ended. However, shipping costs have increased, and the quotation for high-quality nickel mines has increased, resulting in strong nickel prices.
In May, domestic stainless steel production remained at a high level, and last week, stainless steel inventories accumulated month on month, resulting in lower than expected demand.
With the "three consecutive" policies of the central bank in China, announcing the reduction of down payments and interest rates, the real estate market has welcomed significant positive news. After the May Day holiday, steel mills have accelerated their resumption of production, and stainless steel profits have been restored to maintain high production. However, there is still significant supply pressure in the future. In addition, due to favorable policies such as high temperatures during the peak season and trade in policies, the cost of stainless steel raw materials is supported, and the demand potential of the stainless steel market is still sufficient.

Zhejiang Benji Stainless Steel Co., Ltd.,